Study highlights price discrepancies

New figures from Smartnewhomes.com have revealed the scale of price differences that have developed around England over the past few years.

The website's research has shown that a typical first-time buyer in Yorkshire armed with an average sized deposit would be able to buy a three bedroom house in Yorkshire, but if they lived it London this amount would only give then a 60 per cent stake in a one bedroom flat.

The findings come as the majority of house price indices begin to report price falls across most areas of the UK.

"The struggle of first-time buyers has been well publicised with huge disparity across the country," said SmartNewHomes.com managing director David Bexon.

"While first time buyers in Yorkshire or the north-west can still find a three bedroom home for under £150,000, a one or two bedroom flat is about all the rest of the UK's first time buyers can afford with those in London not even able to find a property in this price bracket," Mr Bexon added.

House prices fell by 1.1 per cent last month, according to the latest study from Nationwide.

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